Just before Christmas 2005, the new chief executive of Anglo Irish Bank delivered better-than-expected full-year results. David Drumm promised more of the same in the years to follow. Anglo was taking over the world. New offices had just opened in Birmingham, Manchester and New York. What was it about Anglo’s model that made it so successful?
“Old-fashioned, traditional relationship banking,” was Drumm’s response.
The testimony of Fintan Drury and Alan...
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